Irish Economy: Central Bank says GNP will contract 1.5% in 2010; Recovery from H2 2010 will trigger GNP growth of 2.4% in 2011
Apr 9th, 2010 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
Irish Economy: The Central Bank said today that negative carryover into 2010 from last year's contraction underpins the prospect that economic weakness will persist in the first half of the year. On an annual basis, the economy will contract by 1.5% this year, in GNP (gross national product) terms, or 0.5% in GDP (gross domestic product - - including the profits of multinationals) terms, but with a modest upward trend likely to emerge in the second half. Growth of about 2.4% and 2.8% in GNP and GDP respectively is currently expected for 2011.